Strategic corporate real estate management practice in Ghana

Abstract

Purpose The success of every business depends to a large extent on its corporate real estate (CRE), given that, it is the physical assets that support its operations. To achieve this success, organizations must adopt a strategic approach to CRE management. The purpose of this paper is to examine the extent of adoption of strategic corporate real estate management (SCREM) practice in Ghana based on the views of CRE managers. Design/methodology/approach The embedded mixed method approach was adopted for the study. In total, 72 CRE managers were selected from 35 institutions in 5 sectors (tertiary education, health, banking, security and service industry) where real estate is a requirement for accreditation using a multi-stage sampling technique. Findings An analysis of the existing practices underpinning SCREM in Ghana showed that SCREM has not been adopted completely in Ghanaian institutions. No organization has a complete systematic structure in place for SCREM as the practice is evolving. This finding correlates the global trend that CRE is not strategically managed like other corporate resources. Practical implications Current SCREM practices in Ghana, as divulged by this research, provide useful insight into the current status quo of SCREM and what must be done to ensure that CRE achieves its attribute of value adding. Originality/value The paper outlines the elements of SCREM practice, adding to the limited literature on the practice in Ghana and worldwide. It also sets the stage for further research in SCREM practice and CRE performance.